Citigroup chief financial officer Mark Mason today told an audience of about 300 people gathered at the Conrad Hotel in New York why the bank was having trouble complying with demands by regulators imposed as part of a $400 million settlement in 2021 related to poor risk management practices.
Speaking at the Goldman Sachs Financial Services Conference, Mason told the bank's managing director of equity research, Richard Ramsden, that a hodgepodge of internal systems that were "never fully integrated" have made it more difficult than expected to file required reports with regulators about how his bank is used.
